Wednesday, January 25, 2012
This bodes well for the Spring Bounce! We’ll all be rich!
In the mortgage market, activity remained at the low levels of the last two years, despite the pick-up in gross mortgage lending in December. The number of mortgage approvals for house purchases by the High Street banks did increase to 36,171 in December compared with November, although remortgaging did drop back slightly in the same period. Over the year as a whole, the number of mortgages approved for house purchases was very similar to 2010, the BBA said. The number of approvals for remortgaging was up 3% in 2011 compared with 2010. The average house purchase value was similar to 2010, at Â£145,200, the BBA said.